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Leveraging State Clean Energy Funds for Economic Development

Sources:

Brookings Institution

Authors:

Lewis Milford

Mark Muro

Jessica Morey

Devashree Saha

Mark Sinclair

Date:

1 January 2012

This report analyzes the impact of state-level clean energy funds (CEFs) in the United States and their ability to affect both the deployment of renewable energy projects and stimulate economic development. The report discusses the limitations of current CEFs focusing simply on project investment and looks towards the opportunity to leverage CEF funding to overcome large, structural market barriers such as limited industry information, lack of collaboration between states, and lack of collaboration between stakeholders. The report argues that shifting CEM funding to target these barriers could stimulate economic development in additional to renewable energy deployment.